World Economy

Russia Inflation at 8%

Russia Inflation at 8%Russia Inflation at 8%

Russian inflation accelerated to the fastest pace in three years, putting pressure on the central bank to raise interest rates even as economic growth shrivels. Consumer prices jumped 8 percent from a year earlier in September after a 7.6 percent advance the previous month, the Federal Statistics Service in Moscow said Sunday in an e-mailed statement. That matches the median estimate of 21 economists in a Bloomberg survey. Prices grew 0.7 percent from August. Faster inflation has prompted the central bank to raise its benchmark rate three times this year to 8 percent from 5.5 percent in February.